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Top Midday Stories: Boeing Workers Approve Labor Contract, End Strike; Palantir Raises FY Revenue Guidance
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Top Midday Stories: Boeing Workers Approve Labor Contract, End Strike; Palantir Raises FY Revenue Guidance
Nov 5, 2024 9:54 AM

12:11 PM EST, 11/05/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading on Tuesday as Americans go to the polls to vote on the next president of the United States.

In company news, Boeing ( BA ) reached an agreement with its striking workers Monday, as members of the International Association of Machinists and Aerospace Workers Districts 751 and W24 ratified a new contract, the union said in a statement. The roughly 33,000 striking Boeing ( BA ) workers accepted the company's new offer, which will increase wages by 38% over four years and give workers a $12,000 ratification bonus. Boeing ( BA ) shares were down 0.8% near noon.

Palantir Technologies ( PLTR ) reported Q3 adjusted earnings late Monday of $0.10 per share, up from $0.07 a year earlier and above the Capital IQ consensus estimate of $0.09. Third-quarter revenue was $725.5 million, up from $558.2 million in the year-ago period and above the Capital IQ consensus of $703.7 million. The company expects Q4 revenue in a range of $767 million to $771 million. Analysts surveyed by Capital IQ expect $744 million. Palantir ( PLTR ) also raised its full-year revenue guidance to a range of $2.805 billion to $2.809 billion from its previous guidance of $2.742 billion to $2.75 billion. Palantir ( PLTR ) shares were up 22.8%.

Apollo Global Management ( APO ) reported Q3 adjusted net income Tuesday of $1.81 per share, up from $1.59 a year earlier and above the Capital IQ consensus analyst estimate of $1.72. Third-quarter revenue was $7.77 billion, up from $2.60 billion a year earlier. Apollo shares were up 6.4%.

Ferrari ( RACE ) reported Q3 earnings Tuesday of 2.08 euros ($2.27) per share, up from 1.82 euros a year earlier and above the Capital IQ consensus estimate of 2.02 euros. Third-quarter net revenue was 1.64 billion euros, up from 1.54 billion euros in the year-ago period but below the Capital IQ consensus of 1.65 billion euros. Ferrari ( RACE ) shares were down 7.2%.

Vertex Pharmaceuticals ( VRTX ) reported Q3 non-GAAP net income late Monday of $4.38 per diluted share, up from $4.08 a year earlier and above the Capital IQ consensus estimate of $4.13. Third-quarter product revenue was $2.77 billion, up from $2.48 billion in the year-ago period and above the Capital IQ consensus of $2.69 billion. Vertex now expects fiscal 2024 revenue in a range of $10.8 billion to $10.9 billion, up from previous guidance of $10.65 billion to $10.85 billion. Vertex shares were up 4.4%.

Kroger ( KR ) has finalized a $1.37 billion settlement with a coalition of 30 state attorneys general over the grocer's alleged role in the US opioid crisis, several state attorneys general said Monday. Kroger ( KR ) will be subject to injunctive relief that will require monitoring and sharing data related to suspicious opioid activity across its pharmacies, according to the settlement. Kroger ( KR ) shares were up 1.5%.

Price: 148.28, Change: +8.85, Percent Change: +6.35

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